Private companies should invest in education sector: Union Minister

Union Education Minister Dharmendra Pradhan said that a consensus must be built to urge private companies to invest more in the education sector under Corporate Social Responsibility (CSR). He was answering a parliamentary question on investment in education. “Companies act 2013 mandates 2 per cent of company’s net profit into CSR activities and the education minister should recommend to the government that 50 per cent of that 2 per cent should be spent for the education sector and particularly education sector in aspirational areas,” an additional question was asked in Parliament. While the CSR mandate includes education, we need to create an environment and consensus to invest a large portion of CSR funds on education and research, Pradhan said.